VATupdate

VAT Groups become available to Taxpayers as of July 1, 2022

  • From 1 July 2022, VAT groups will become available to taxpayers.
  • This will mean that a VAT group can be created by entities that are linked by economic, financial or organisational ties. A representative of a VAT group will act on behalf of the group in relation to the settlement of VAT.
  • The supply of goods and services between the members of the VAT group will not be subject to VAT.
  • The supply of goods and services with entities outside the VAT group, will be deemed as transactions made with the VAT group.

Source Taxbackinternational

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